He was collared after a foot chase near Park Avenue and 21st Street in Manhattan; his arrest warrant alleges Rosemond conspired to distribute at least 5 kilos of cocaine.

DEA and IRS agents believe the 46-year-old shipped cocaine from LA to New York via FedEx and UPS, and then sent mustard-covered cash -- to throw contraband-sniffing canines off -- back to LA. Feds called Rosemond the "principal leader" of the organization and say he had his hand in the distribution of hundreds of kilos since 2008.

Rosemond was at the heart of controversial reporting in the Los Angeles Times in 2008 about the alleged ambush on Shakur outside a New York recording studio in 1994, one that the Times alleged Rosemond orchestrated because the rapper wouldn't take him on as his manager. (Rosemond's attorney, Jeffrey Lichtman, denies that Rosemond had anything to do with the attack and roundly criticized the Times' article). That report was retracted, but recently, a Rosemond associate named Dexter Isaac confessed to having taken part in the attack and seemed to corroborate the paper's reporting.